Jardine Cycle & Carriage Limited · SGX:C07
Jardine Cycle & Carriage — FY2024 Earnings Presentation
17 slides from Jardine Cycle & Carriage's earnings presentation, Mar 3, 2025
Slide 1: Jardine Cycle & Carriage Full Year 2024 Results Presentation
Jardine Cycle & Carriage Full Year 2024 Results Presentation (3 March 2025) Disclaimer: Jardine Cycle & Carriage accepts no liability whatsoever with respect to the use of this document or its contents.
Slide 2: FY2024 Highlights
FY2024 Highlights Focus Highlights Resilient earnings Strong underlying profit at US$1.1 billion Attractive dividends US¢112 per share, maintained dividend payout ratio at ~40% Reduced holding company debt from US$1.3 billion to Balance sheet flexibility US$816 million Unlocked US$387 millio
Slide 3: Portfolio Reorganisation
Portfolio Reorganisation Reorganised business portfolio to align growth opportunities and capital allocation 3
Slide 4: Active Portfolio Management for Resilience & Growth
Active Portfolio Management for Resilience & Growth 2024 Capital released: US$387 million Capital recycling Divested SCCC Monetised non-core assets in Malaysia and Indonesia (building on sale of Singapore properties in 2023) Debt: US$816 million (as at 31 Dec 2024) Astra enhanced dividends Bal
Slide 5: Embedding ESG
Embedding ESG Progressing on ESG Focus Areas Governance Decarbonisation Long-term resilience Improved disclosure ratings (S&P CSA: Top 15%; Reduced Scope 1 and Scope 2 emissions Aligned capital allocation Sustainalytics: Top 20%) by 17% (2019-2024) ESG Due Diligence and Internal Carbon Sin
Slide 6: FY2024 Financial Highlights
VIETNAM MALAYSIA SINGAPORE FY2024 Financial Highlights INDONESIA
Slide 7: FY2024 financial highlights
FY2024 financial highlights 28% Underlying Profit Growth from 2019 Contribution to JC&C’s Underlying Profit (US$m) +5% CAGR 1,160 1,096 1,102 863 786 429 2019 2020 2021 2022 2023 2024 7
Slide 8: FY2024 financial highlights: Resilient portfolio, profit affected by FX
FY2024 financial highlights Resilient portfolio, although profit affected by FX Underlying profit 5% lower at US$1.1bn Final dividend of US¢84 per share, total dividend of US¢112 per share for the year FY2024 FY2023 US$m US$m Change US$m US$m Change INDONESIA Revenue 22,298 22,235 0% Astra 993 1
Slide 9: FY2024 financial highlights: Balance sheet remains strong
FY2024 financial highlights Balance sheet remains strong Dec-24 Dec-23 US$m US$m Change Shareholders' funds 8,291 8,039 3% Total equity 18,419 17,815 3% Net debt (3,952) (4,525) -13% Net debt (excl. FS) (235) (1,145) -79% Net debt (corporate) (816) (1,257) -35% Gearing 21% 25% Gearing (excl. FS) 1%
Slide 10: Indonesia
Indonesia Southeast Asia’s largest economy and most populous country
Slide 11: Indonesia
Indonesia 3% lower contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 1,050 Contribution to JC&C: -3% US$1,027 million 1,000 950 900 40 35 -13% 30 2023 1,019 39 2024 993 34 11
Slide 12: Astra
Astra 1% higher net income Net Income (US$m) 900 800 Total Net Income: -5% -2% US$2.1 billion 700 600 Contribution to JC&C: +6% 12 US$993 million 500 400 300 200 100 +37% +9% 0 Heavy equipment, mining, Automotive Financial Services Agribusiness Infrastructure & logistics construction, energy 2023 75
Slide 13: Vietnam
Vietnam One of the fastest growing economies in Southeast Asia with an expanding consumer market and robust manufacturing sector
Slide 14: Vietnam
Vietnam Maintained contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 45 Contribution to JC&C: US$103 million 40 +10% 35 -5% -6% 30 25 20 15 10 THACO REE Vinamilk 2023 36 32 35 2024 39 30 34 14
Slide 15: Regional Interests
Regional Interests A portfolio of market leading businesses
Slide 16: Regional Interests
Regional Interests 9% higher contribution to JC&C Contribution to JC&C’s Underlying Profit (US$m) 35 +13% Contribution to JC&C: 30 US$55 million 25 20 -3% 15 10 +21% 5 0 C&C SCCC TMC 2023 29 17 5 2024 32 16 7 16
Slide 17: THANK YOU
THANK YOU
Jardine Cycle & Carriage — FY2024 Earnings Presentation on 6ix